Agri machinery Escorts tractor sales jump 49% in January 2021

Farm equipment manufacturer Escorts Agri Machinery on Monday reported a 48.8 percent jump in tractor sales at 9,021 units in January 2021. The company had sold 6,063 units in January 2020.

Domestic tractor sales during last month stood at 8,510 units as against 5,845 units in January 2020, up 45.6 percent, Escorts said in a BSE filing. Escorts said the tractor market continues to be strong on back of positive macroeconomic factors and strong rural cash flows.

"The supply side situation is normalising and is no longer expected to be a bottleneck to meet demand. However, rising inflation continues to be a worry," the company said. Exports last month grew to 511 units compared with 218 units in January 2020.